In Wisconsin, a title company plays a crucial role in the real estate transaction process by ensuring the property title is legitimate, so the buyer can be confident in their investment. Here’s a breakdown of what we do at Knight Barry Title.
-
Title Search and Examination:
- Knight Barry conducts a thorough search of public records to trace the historical ownership of the property. They check for any defects or issues with the title, such as liens, encumbrances, and other legal restrictions that might affect ownership.
-
Issue Title Insurance:
- Once the title is deemed clear, we issue title insurance, which protects lenders and homeowners against future claims or legal fees that could arise from disputes over the ownership of the property. There are typically two types of title insurance policies offered: one for the mortgage lender and one for the property owner.
-
Escrow Services:
- We act as a neutral third party that holds and manages the funds and documents involved in the real estate transaction until all parts of the contract are fulfilled. This includes receiving and distributing payments, finalizing and recording the closing documents, and ensuring that the transfer of ownership goes smoothly.
-
Closing Services:
- Knight Barry facilitates the closing process, which is the final step in executing the real estate transaction. They prepare closing documents like the deed, mortgage, and other necessary paperwork, and they ensure that these documents are signed and recorded with the appropriate local government entities.
In essence, Knight Barry Title ensures that the process of buying or selling real estate is conducted smoothly, securely, and legally, providing peace of mind for all parties involved.